Recently, Citi experienced a data breach that exposed credit card numbers and contact information of about 1% of its customers. When you consider CitiGroup has tens of millions of customers, you realize that’s a pretty big number. Citi says that it is contacting those who were impacted, but that could take a while. Meanwhile, if you have a Citi account, you might want to consider how to protect yourself.
What Should You Watch Out For?
If there is some good news in this, it’s that, by law, your liability for fraudulent credit card purchases is $50. (With debit purchases, many issuers offer limited protection, but you usually have to notify the issuer within two days if you want liability limited to $50. If you take too long, you could find your checking account drained — and no recourse.) However, it’s often better not to wait until a fraudulent purchase is made; you can call and ask for a new account number and a replacement card.
[Read more…] about Citi Data Breach: How Can You Protect Yourself Against Credit Card Fraud?
